25 CEOs Who Made More Than Their Companies Paid In Income
Taxes

The Institute for Policy Studies has just released its 18th annual review of U.S. executive compensation and found that 25 out of the country’s 100 highest-paid chief executives actually earned more in 2010 than their companies paid out in corporate income taxes.

In fact, looking at the list below, only five of these 25 companies paid any corporate income taxes to the federal government. One business had a zero sum on income taxes paid, while the remaining 19 companies all received millions back from the government.

Writes the IPS in the The Atlantic:

Although Verizon paid less in income taxes than its average customer paid in phone bills, the company broke no laws. America’s corporations spend hundreds of millions of dollars a year on lobbying, and they get a good return on their investments. They get tax loopholes — and plenty of them. Last year, Verizon shelled out $16.8 million to lobby federal lawmakers and another $18.7 million on contributions into the campaign accounts of their favorite federal politicians.